legitimate expenses on J Schedule

[ozarkmiss]

I discovered that I don't have any life insurance and might be a little harder to get after BK. Universal or Term?

Also have a '76 vehicle that will probably putz out soon. Should prolly go on and get a secured vehicle before filing.

What were some of your expenses that you nearly forgot to list?

[debee]

I'm looking for the same information as you, ozarkmiss.

Health insurance might be an area where you can increase your expenses. I know our family skimped out there and signed up for the cheapest policy his company offered. It's so stupid to sacrifice health and/or retirement in order to pay other bills. Anyway, we're getting the best policy now and our expense will go up over $200 per month.

Also, insurance deductibles across the board. Decrease the deductible and increase your coverage amounts. That's another area we skimped on and in our case it's insurance loss that got the whole bk thing rolling.

Another one I read about here last night was travel expense for family events such as funerals and weddings. Gifts for holidays/birthdays. Education expenses for kids - does Johnny need a tutor? Extra home maintenance - like an estimate from the termite guy, etc

[ozarkmiss]

excellent input debee! Many thanks. Looking on the federal forms, the life insurance needs to be TERM.

[ccsjoe]

Memberships on stuff like Costco, for example. Also, your annual vehicle registration fee.

[rjmwx81]

Another one I read about here last night was travel expense for family events such as funerals and weddings. Gifts for holidays/birthdays.

Where do you list this on the Schedule J? Just as a "miscellaneous expense?"

[debee]

If I remember correctly, someone recommended putting it in as an explanation for high recreation expenses... something like, "which includes travel expense for ..." although I don't know about the recreational value of a funeral.

[newbie2]

If I remember correctly, someone recommended putting it in as an explanation for high recreation expenses... something like, "which includes travel expense for ..." although I don't know about the recreational value of a funeral.

Be careful with this expense. Many trustees (could be district specific) will frown on those. What worked for one person in their district may not work in yours. In mine the trustee would have scratched that right off the list..

[ozarkmiss]

pet care expenses ~ mentioned by the seasoned atty I consulted with. Not sure where it would go on the form?

[ozarkmiss]

Found this very helpful illustrative link buried here in the forums.

http://www.ca-bankruptcy-attorneys.com/calculators/expense_calculator.html

Your Mileage may vary in your distrrict